Covid-19 Impact: Air India Suspends Contract Of Around 200 Employees

on Thursday temporarily suspended the contracts of around 200 employees including pilots, who were re-employed after retirement, as all domestic and international commercial passenger flights have been suspended in the country till April 14 to curb the COVID-19 pandemic, a senior official said.

"Since almost all the planes have been grounded and the carrier's revenues have taken a significant fall during the last few weeks, the airline has decided to temporarily suspend the contract of around 200 employees including pilots who were re-employed after their retirement," said the official.

The national carrier has already cut the allowances of all employees, except cabin crew, by 10 per cent for the next three months in order to save money amid the pandemic.

According to the health ministry, death toll due to touched 50 on Thursday. Total number of positive cases has risen to 1,965 in the country.

RECENT NEWS

Revoluts Australian Banking Licence Game Changer

Revolut has spent much of its life insisting that it is more than a bank. In Australia, it has now decided that becoming... Read more

The AI Bank Is Coming, But Who Controls The Risk?

Artificial intelligence is no longer something banks discuss as a distant possibility. It is already working behind the ... Read more

ClearBank UK Profit Leads To European Growth

ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more

Bank Of London Continues To Rebuild

ClearBank’s progress shows that modern clearing and banking infrastructure can become a sizeable and profitable busine... Read more

JPMorgan's Berlin Moment: Chase Takes On Europe

There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more

What Strategy's Bitcoin Sale Really Tells Us

There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more